We may earn commission from links on this page, but we only recommend products we love. Promise.

Tackling the Gender Pay Gap Through Negotiation

Fifty years ago today, on June 10, 1963, President John F. Kennedy signed the Equal Pay Act, requiring that women and men be given equal pay for equal work. Five decades later, a Director of the Lean In Foundation says it's more important than ever for women to know their worth.

It's no secret that women earn less than men. This disparity, referred to as the "gender pay gap," is a statistical indicator of women's wages relative to men's. For every dollar a man earns, white women earn 77 cents, black women earn 69 cents and latina women earn just 57 cents. According to the National Women's Law Center, a typical woman who works full time, year-round will lose $443,360 over a 40-year period.

There are many causes for why women's pay lags behind that of men. Contributing issues such as gender segregation in occupations, discrimination, and inadequate family leave policies are systemic, interrelated, and complex. Yet women also play a role in lacking self-confidence, failing to negotiate on their behalf, and lowering their pay expectations.

Learning how to be an effective negotiator is an essential skill if you want to get ahead. Here are some strategies you can use to help make the gender gap disappear.

Know what you're worth

Women need to have as much information on pay as possible so that they can negotiate more confidently. Research salaries before an interview, asking for a raise, or taking a promotion. This data can be gathered through online resources, talking to friends, family, recruiters and colleagues, and reviewing job postings.

Networking with other women can also be a useful source of information on career opportunities and compensation. There are growing numbers of professional networks that provide environments where women can nurture relationships in a space that is comfortable, open, and supportive. Often, when men network, their conversations are strictly business. Women usually cover much broader topics that are relevant to the multi-faceted challenges we face, such as work-life balance, identifying mentors, motherhood, etc. An example of a great resource for women looking to network are Lean In circles, which are small groups that meet regularly to share and learn together.

With data in-hand, you can enter into a salary negotiation feeling prepared and more confident. Never name a salary figure first. If the hiring manager asks you what you are looking for in pay, provide a range. Don't share the salary from your previous job, unless explicitly asked. And never say yes to an offer immediately. Taking a position for less than you are worth sets you up for years of below-value compensation.

Know your alternatives

One of the biggest fears in asking for more pay is getting turned down. Before you start a conversation about getting a raise or promotion, know what the options are. Develop a list of alternatives that you would be willing accept if they turn you down. For example, if your employer is unable to offer you the raise you deserve because of financial constraints, you should know if they offer other benefits such as bonus awards or additional time off.

Equally important is knowing what you will do if the answer is no. Will you stay and try again in six months? 12 months? Will you apply for another position within the organization? Will you leave? Ask your boss for advice on how you can advance your career and compensation going forward. Once you have a plan in place, you will feel empowered to take the risk and ask for what you are worth. Don't stick with a company that lacks the long-term career opportunities or culture to support your career progress. Sometimes you can fast-track your career by walking out the door for a position that offers increased compensation as well as long-term career advancement.

Know how to be authentic and still get what you want

Research shows that women who ask for raises or promotions are often seen as aggressive and unfeminine, hurting their relationships with colleagues and future job prospects. While it might not be fair, the reality is that women need to be assertive and feminine; confident, but not arrogant; self-interested but thoughtful of the team. Effective strategies that strike the right balance include outlining how you will be able to add greater value to the team. That is a better approach than justifying why you deserve a raise or promotion.

Anticipate possible objections, prepare your response, and ask for input from your boss for creative options. Try to approach the discussion looking for win-win solutions. Find what style works best for you, create your own negotiation strategies and then own it!

Kim Keating is founder and managing director of Keating Advisors, a strategic human resources consulting firm, and a Director and negotiation expert at the Lean In Foundation.

Cosmo ladies—get one-on-one help from Kim Keating during our live chat today at 3pm EST. Head over to facebook.com/leaninorg and bring your questions. We'll see you there!

Photo: Abbie Rowe/White House

This content is created and maintained by a third party, and imported onto this page to help users provide their email addresses. You may be able to find more information about this and similar content at piano.io

This commenting section is created and maintained by a third party, and imported onto this page. You may be able to find more information on their web site.

A Part of Hearst Digital Media
Cosmopolitan participates in various affiliate marketing programs, which means we may get paid commissions on editorially chosen products purchased through our links to retailer sites.